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Carrick Capital raises $275 mln for second fund

Carrick Capital Partners has closed its second growth equity fund at $275 million. The target was not named.

The pool’s limited partners included university endowments, foundations, fund-of-funds, pension plans and family offices.

As in the case of its previous fund, Carrick Capital Partners II will focus on backing companies in the tech-enabled business service sector, such as transaction processing and software-as-a-service.

In 2012, Carrick raised $180 million for its debut fund, generating an IRR of 5.70 percent and an average multiple of 1.06x, as of September 30, 2014, according to Bison data.

The fundraising news comes two months after Carrick named former Senate majority leader William Frist as a special advisor.

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